Genesco Inc. (NYSE:GCO) Receives $39.33 Consensus Price Target from Analysts

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Shares of Genesco Inc. (NYSE:GCO) have earned an average rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $39.33.

Several research analysts recently weighed in on the company. TheStreet downgraded Genesco from a “b” rating to a “c+” rating in a research note on Wednesday, June 5th. Zacks Investment Research downgraded Genesco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Pivotal Research restated a “hold” rating and set a $45.00 target price on shares of Genesco in a research note on Monday, June 3rd. Finally, ValuEngine downgraded Genesco from a “hold” rating to a “sell” rating in a research note on Friday, July 19th.

In other news, VP Mario Gallione sold 2,049 shares of the company’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $40.31, for a total value of $82,595.19. Following the sale, the vice president now owns 36,309 shares in the company, valued at $1,463,615.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thurgood Marshall, Jr. sold 1,690 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $44.57, for a total value of $75,323.30. Following the completion of the sale, the director now owns 9,724 shares in the company, valued at approximately $433,398.68. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Alpha Windward LLC purchased a new stake in shares of Genesco in the first quarter worth about $470,000. NumerixS Investment Technologies Inc boosted its stake in shares of Genesco by 500.0% in the first quarter. NumerixS Investment Technologies Inc now owns 3,600 shares of the company’s stock worth $164,000 after buying an additional 3,000 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Genesco by 2.0% in the fourth quarter. Principal Financial Group Inc. now owns 163,939 shares of the company’s stock worth $7,262,000 after buying an additional 3,137 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Genesco by 1.2% in the first quarter. Rhumbline Advisers now owns 59,366 shares of the company’s stock worth $2,704,000 after buying an additional 681 shares during the last quarter. Finally, American Century Companies Inc. purchased a new stake in shares of Genesco in the fourth quarter worth about $6,134,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.

GCO stock traded down $0.06 on Thursday, hitting $35.53. 350,500 shares of the company’s stock were exchanged, compared to its average volume of 309,181. Genesco has a 12-month low of $35.07 and a 12-month high of $51.85. The stock’s 50 day simple moving average is $40.29. The company has a current ratio of 1.65, a quick ratio of 0.64 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $628.14 million, a PE ratio of 10.83, a P/E/G ratio of 2.07 and a beta of 0.52.

Genesco (NYSE:GCO) last announced its earnings results on Friday, May 31st. The company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.29. Genesco had a positive return on equity of 8.85% and a negative net margin of 1.70%. The firm had revenue of $495.70 million for the quarter, compared to the consensus estimate of $479.36 million. During the same period in the previous year, the business earned ($0.06) EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, sell-side analysts forecast that Genesco will post 3.66 earnings per share for the current year.

Genesco announced that its board has authorized a stock buyback plan on Friday, May 3rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 11.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Genesco Company Profile

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.

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